Get Connected

Anonymity of Monero in danger

by
SendCriptocurrency

Monero has often
been honored with articles here: it is a crypt diet, which places a special
focus on privacy. Concrete attention is given to the fungibility; The history
of a single coin should not be traceable.

A recent article
by Andrew Miller, Malte Moser, Kevin Lee, and Arvind Narayanan now suggests
that this is not the case. A deep analysis of the paper is intended to prove
the opposite, at least for transactions made before 2017.

In the article
two serious properties of Monero are presented:

In the Monero
client, the user can determine how much the number of mixins (i.e., the number
of ring signatures used) is. This number is supposed to be zero in many cases -
which should mean nothing less than that these transactions are traceable.
Moreover, the presence of such trackable coins in a new transaction is intended
to make this new transaction also traceable even when using Mixins.

The Mixin itself
is unfortunate according to the Papers - so the false ring signatures should be
quite distinguishable from the real ones.

Since all theory
is gray, the authors have presented the problem in detail: On a MoneroLink
website,

It should be
emphasized that Andrew Miller is sitting in the advisory board of ZCash -
another crypt diet that focuses on anonymity. On the allegations, Andrew Miller
emphasizes that the criticized points are verifiable by everyone, so that
everyone can see whether this is an attack on the part of ZCash or actual
grievances.

More on the
topic: Does Google work on its own bitcoin? Why blockchain does not fit for
conventional banks

Answer from the
Monero community - All old coffee?

Of course, the
community behind Monero expressed itself to these accusations. Many of the
statements were of an emotional nature, many have pointed out that the lead
author works for ZCash and is accordingly biased - but it was also pointed out
that the corresponding problems are well-known.

In Github Issue
# 1673 of February 4, 2017, the low number of mixins is pointed out. In a hard
fork in September 2017, the minimum number of mixins should be increased to
four, the quoted issue aims at even six mixins.

According to the
statements of Riccardo Spagni aka FluffyPony, the most famous person in the
core team of Monero, 80% of the transactions should not be traceable. For the
remaining 20%, a solution is worked out, as is also visible on the targeted
Hard Fork. Yaps .. in today's article
I will bring all the updates Monero